Psychedelics Revolution Gaining Breadth And Momentum

The psychedelic drug industry is developing both the drugs and the treatment facilities to claim much of this revenue pie over the longer term.

Aiding the growth of the psychedelics treatment market, psychedelic drug companies are at the cutting edge of medicine when it comes to introducing digital therapy platforms as part of their treatment operations.

This not only adds even greater efficiencies in delivering psychedelics-based services. It greatly facilitates scaling up these treatment operations.

Road to legalization increasingly clear

Among psychedelic drugs, only ketamine is currently broadly legal. While ketamine-based psychedelics therapy has significant growth potential, it’s only a starting point for the industry.

For the psychedelic drug industry to reach its potential, the legalization of many of these other substances (for medicinal use) is necessary. Even a few years ago, that may have seemed like an insurmountable obstacle.

Times have changed.

Industry insiders now talk about the near-term legalization of psilocybin (for depression and related conditions) and MDMA (for PTSD). There are many reasons for such confidence.

For starters, the FDA itself has fast-tracked both Compass’s psilocybin-based research for depression and the MAPS clinical trial using MDMA-assisted therapy for PTSD.

Secondly, we’re already seeing regulatory movement. In Oregon, psilocybin is fully legal for medicinal use. In Canada, Health Canada has been quickly expanding a program of medical “exemptions” for legalized psilocybin use.

Yet MDMA may still be first to the finish line when it comes to legalization.

Why? Ask the U.S. Department of Defense.

Post-traumatic stress disorder (PTSD) is at epidemic levels among first responders and military personnel. But it’s at crisis levels within the U.S. military. See: More U.S. Military Funding For Psychedelic Drug R&D As PTSD Crisis Worsens

PTSD (and related mental health problems) represents a horrendous attrition rate within the U.S. military. Existing treatment options are grossly inadequate.

Meanwhile, MAPS’ MDMA-based clinical trial has been reporting clinical progress for over 90% of the patients included in its study.

The Mental Health Crisis costs the global economy over $1 trillion per year in lost productivity alone. Our health care systems desperately need psilocybin (and other psychedelics) to not only improve treatment options but save precious healthcare dollars.

For the Department of Defense, its need for MDMA legalization is perhaps even more imperative.

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The writer holds share in MindMed Inc, Cybin Inc, Numinus Wellness and Mind Cure Health. Mind Cure Health is a client of Psychedelic Stock Watch.

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